In a recent case before the Tax Court in Cape Town, the issue of allocating a purchase price in the sale of a business was considered. The allocation of the purchase price for a business can, amongst other things, have significant tax implications for the parties. The South African Revenue...
摘要: Discusses the things that a businessman should look into when planning to sell his business. Importance of figuring out the total value of the business; Role of appraisers in establishing a fair price; Consideration of ways to structure a deal with fewer tax implications....
Every piece of property you own that is not used in a trade or business is a capital asset. Therefore, if you are not in the business of selling land, the profit you earn from its sale is subject to capital gains tax rules. These tax rules require you to calculate the gain or loss ...
Selling your business doesn't end with closing the deal. In fact, there are several post-sale considerations you should keep in mind. There are various tax implications of the sale, meaning you should work closing with tax professionals. Seek advice from tax advisors to help you understand tax...
“If the property will be sold during the planned lifetime of the parent, I would not consider transferring it. This intergenerational transfer may cause tax implications as the transfer will cause a disposition at full market value.”
Step 1: Set a housing expense budget (include estimated payments for mortgage, property tax, insurance, HOA, and maintenance) Step 2: Save for the down payment (and closing costs) Step 3: Get pre-approved for a mortgage Step 4: Work with a real estate agent Step 5: Find the home of...
Transfer tax or excise tax (0.1%-3%) Depending on where you live, you may need to pay a non-deductibletransfer taxon the sale of your house to complete the transaction. The tax will be calculated based on the value of your property and may be imposed by your state, county, or city....
If you sell shares then it can be income from business or Capital Gains based on your activity. If you are a day trader or if you trade regularly in Futures and Options the income is typically classified as Income from Business. But Income Tax Departments lets you decide which type of inc...
Selling the marital home will exclude up to $500,000 in profit from federal capital gains taxes. So, the tax implications are enormous. Couples can apply for this tax break if they file joint tax returns or separately. When filing separately, each partner can still claim up to $250,000 ...
Another aspect of building a strong knowledge base is understanding the financial and tax implications of life insurance. Familiarize yourself with concepts such as cash value accumulation, policy loans, and tax advantages. This will enable you to effectively communicate the financial benefits of life ...